Shardul Amarchand Mangaldas advised Tata Chemicals Limited (Tata Chemicals) on its INR 123 Crore acquisition of precipitated silica business of Allied Silica Limited (ASL), on a slump sale basis.
The General Corporate Practice of Shardul Amarchand Mangaldas advised Tata Chemicals on the transaction that included conducting due diligence; drafting and advising on the business transfer agreement; and advising on process of transfer of leasehold property of State Industries Promotion Corporation of Tamilnadu Limited (SIPCOT) from ASL to Tata Chemicals. The M&A Transaction team was led by Mr. Abhishek Guha, Partner; and included Ms. Anwesha Haldar, Senior Associate, and Mr. Alind Chopra, Associate. Ms. Dorothy Thomas, Partner; Mr. Aniruddha Ghosh, Principal Associate; and Ms. Shruthi Lakshmi, Associate provided local regulatory and real estate advice.
As a part of the transaction, Tata Chemicals Limited will be acquiring the precipitated silica business of ASL, by way of slump sale pursuant to a business transfer agreement as a part of TCL’s journey to build technologically enabled, differentiated businesses, with greater customer centricity, by leveraging its core strengths.
Parties involved in the transaction were Tata Chemicals Limited (Our client) and Allied Silica Limited and promoters of Allied Silica Limited (Counterparts).
Other advisors to the agreement were A K Mylsamy & Associates LLP (‘Legal Counsel for ASL and promoters of ASL’).
The deal was signed on April 07, 2018 and closing shall take place in the next three (3) months subject to fulfilment of certain agreed conditions precedents and milestones.
About Shardul Amarchand Mangaldas & Co.
Shardul Amarchand Mangaldas & Co. (SAM & Co.), founded on almost a century of legal achievement, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 520 lawyers, including over 100 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.